The new company will retain the DraftKings moniker and company co-founder and CEO Jason Robins will continue to lead it, along with a management team that includes co-founders Paul Liberman and Matt Kalish.
The three companies are merging through a special purpose acquisition, a method of taking a company public that differs from the more familiar initial public offering, or IPO, process, DraftKings said. It will also receive a $400 million infusion from the Los Angeles-based company, which was founded earlier this year by Jeff Sagansky, a former president of CBS Entertainment, and Harry Sloan, a former chairman and CEO of MGM, in order to invest in media and digital entertainment ventures.
The company has offices on the Isle of Man, in London and elsewhere in Europe, and provides sports betting software and programs to gambling operations globally. It was founded in 2007.
Source: News Formal (newsformal.com)
Yeah this is a perfect time in our history to unleash legal gambling to the masses. Zero foreseeable problems there.
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